Tubi and The Roku Channel are two of the biggest free-streaming platforms, though users consume different types of content one each, Fox execs said.

Fox Corp. is buying streaming platform Roku in a cash-and-stock deal valued at approximately $22 billion.

Fox acquires Roku for $160 a share, valuing it at about $22bn, to pair its live sports and news with the platform in 100 million streaming households.

Fox says the combined company will be the third largest in US television.

Fox Corporation has announced plans to acquire Roku for approximately $22 billion, a strategic partnership designed to integrate Fox's renowned sports and news programming with…